FOCUSING BUSINESS PLAN

To be
successful in describing your business,you a need a focus business plan that match the
needs of the reader. Businesses face four situations in which reader needs are
specific enough and distinct enough that it makes sense to write the plan with
particular emphases in mind. This refer to as a focused Business Plan.

Plans for a Pioneering
Business

When your product or service is truly new to everyone, it is considered a pioneering business.With a
pioneering business, your greatest problems are:

Helping
people understand how it works,

Showing them
how they would use it,

Estimating
how many people would want it, and

Estimating
how much they would be willing to pay for it.

Anything you
can do to help readers experience and understand the product or service helps
demystify it. Plan on a detailed
explanation of the product or service and how it works. Make sure you explain
the benefits customers would receive, and talk
about the customer's personal experience in trying out, buying, and
using the product.

The value of pre-selling, pilot tests, or test marketing cannot be stressed enough. If 100 people tried the
product and 10 bought it, you have a powerful proof of concept.

Pioneering
products also face a hurdle around manufacturing. Can they be manufactured at a
cost that leaves a chance for profit? Letters from manufacturers or consulting
engineers confirming the viability and production costs of your product go a
long way to alleviating fears in this area.

In addition, if your product is a
minor variations on a product already made (for example, a consumer version of
an existing industrial product), play this point up, since it means fewer
problems are likely for your specific product.

Plans
for a new Entrant Business

When your product or service already exists but your business firm is the first of its kind in your
market, it is considered a new entrant
business.As such it is always harder to prove that your product
or service will work.

In response, help make the product or serv­ice seem more
familiar by detailing how it is used by customers, and give more background on
how the product or service has done in other markets, especially markets
similar to yours. Also emphasize existing operations in your industry analysis.

Seeing that it has worked elsewhere takes much of the mystery out of the
question of whether it would work where you plan to market it.

Plans
for an Existing business

Occasionally,
entrepreneurs start a business before they write a plan for it. When writing a
plan for an existing business, you have the benefit of knowing the history, the
existing market, and the financial track record of the firm. These form a
foundation for the plan, so the projections about future markets, sales, and
profits should clearly build on these historical facts.

It can make sense to
gather information on existing customers to help clearly define the market, and
often suppliers and trade associations can provide more in-depth information on
market shares and competitors.

Existing firms or business have assets to pro­tect,
such as the customer list, the firm's name, and any intellectual properties it
has developed (e.g., a patented way of performing work, a trademark, a copy­righted
report, a recipe protected as a trade secret).

Showing how you plan to pro­tect
and perhaps even make additional profits from your intellectual property (e.g.,
through licensing patents or trademarks) strengthens the business plan, as does
talking about new ideas for increasing sales, which typically appears in the
research and devel­opment section.

Plans
for a business with significant government involvement

Some businesses depend on
government approvals to go forward. Examples include waste management, companies
using toxic chemicals, service stations, and even in many places, day care
centers or private schools ownership.

When government gets involved in a major
way, for example, having to approve the business license, zoning, or
environmental impact, delays are inevitable. You need to build a plan that
antic­ipates delays and either works around the parts of the business requiring
approvals or is able to go into a type of sleep mode for some times, using as
few resources as possible until approval arrives.

Working around approvals
usually hinges on sell­ing services or products that are part of the business
but do not require specific approval. For someone starting a service station,
it may be possible to do minor car repairs such as oil changes, detailing, or
tune-ups at the customer's home or workplace. This helps spread word, build a
customer base, improve skills, and keep cash flowing until approval for the
service station comes.

Once you
have written the complete business plan, you are positioned to create special-purpose versions of the plan to
meet the needs of a wide variety of people important to your business. Usually
these special-purpose plans use a subset of the total plan.

In addition to the
full business plan described above, there are five other special-purpose types
of Business plan.

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